Cinctive Capital Management LP Buys New Shares in Laboratory Co. of America Holdings (NYSE:LH)

Cinctive Capital Management LP acquired a new stake in Laboratory Co. of America Holdings (NYSE:LH) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,091 shares of the medical research company’s stock, valued at approximately $5,754,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LH. Graney & King LLC purchased a new stake in Laboratory Co. of America in the fourth quarter valued at $26,000. Fortitude Family Office LLC boosted its holdings in Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 127 shares during the last quarter. Human Investing LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $39,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Laboratory Co. of America during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Trading Down 0.0 %

LH opened at $232.63 on Wednesday. The business has a fifty day moving average price of $244.45 and a 200 day moving average price of $234.86. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The stock has a market capitalization of $19.47 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Sell-side analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.24%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group reduced their price target on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Saturday. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their target price for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Morgan Stanley lifted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Bank of America upped their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $269.92.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of the firm’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the transaction, the executive vice president now directly owns 5,302 shares of the company’s stock, valued at approximately $1,228,314.34. This trade represents a 12.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the sale, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,258 shares of company stock valued at $3,753,177 over the last quarter. Company insiders own 0.85% of the company’s stock.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.